Medical device accelerator Medtech Innovator and the Asia Pacific Medical Technology Association (Apacmed) have selected Opharmic Technology (HK) Ltd. as the grand prize winner of its Asia Pacific Accelerator program. Opharmic has developed a noninvasive ultrasound platform technology for a variety of biomedical applications, with eye drug delivery being one of the key applications.

With the support of Singapore’s Economic Development Board (EDB), Medtronic plc has launched the Medtronic Open Innovation Platform (OIP) in Singapore to develop med-tech and digital health solutions for Asia Pacific. The company will invest up to $50 million for this venture.

Sure H.R. 3 could save the U.S. government hundreds of billions of dollars on drug spending, but that savings comes at a long-term cost in innovation that’s higher than the Congressional Budget Office (CBO) initially forecast.

DUBLIN – Panakès Partners SGR SpA has raised €150 million (US$177 million) in a first close of its second fund and is looking to secure a final tally of €180 million by year-end. That would represent more than twice the size of its first fund of €80 million and reflects its move into therapeutics investing.

LONDON – There has been a lukewarm reception from the industry to the latest developments in the plan to establish a European health technology assessment (HTA) agency, with concerns from pharma that member states will be able to pick and choose whether to apply joint evaluations in national reimbursement and access negotiations.

Heralded as a potential turning point for U.S. innovation in the 21st century, the U.S. Innovation and Competition Act, S. 1260, is a big step closer to becoming law. The Senate voted 68-32 June 8 to pass the sweeping $250 billion bipartisan bill intended to give the U.S. an edge over China when it comes to innovation and investment in several critical industries, including artificial intelligence, biotechnology and quantum computing.

Multinational players are changing the way they look at China as a source for innovation as it accelerates efforts in areas such as digital health in pursuit of desire to make a global impact. At the Chinabio Partnering Forum, panelists representing Pfizer Inc., Merck & Co. Inc., Sanofi SA and Johnson & Johnson all shared what they have witnessed there and how they’re already tapping China-sourced innovations.

Combining research on emerging technologies with an accelerator program and a dedicated equity fund, the European Commission (EC) launched the European Innovation Council March 18 to invest in promising research and to scale up innovative startups and small- and medium-size businesses.

China’s most important annual government meetings, known as the “Two Sessions,” kicked off March 4 and biopharma executives that were also delegates to the National People's Congress (NPC) suggested that approval for trials should be stricter to avoid repetitive R&D and called for innovative drugs to get into the state insurance list – and to patients – faster.